Exhibit 14-3 Nazzi, Inc.sold $400, 000 of its 9%, five-year bonds dated January 1, 2010, on May 1, 2010, for $393, 000 plus accrued interest.Interest is paid on January 1 and July 1 and straight-line amortization is used.
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Refer to Exhibit 14-3.Interest expense after the July 1, 2010, interest payment has been posted is
A) $12, 500
B) $ 6, 250
C) $12, 000
D) $18, 000
Correct Answer:
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A)valuation account
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